Russia The threat of war has pushed up the price of oil to an exceptionally high level and could push up already high petrol prices

Crude oil the price has risen to its highest level in eight years. The rise in prices is due to news that Russia is preparing to attack Ukraine in the coming days.

The price of a barrel of North Sea Brent rose to $ 94.44 on Friday. One barrel is equivalent to about 159 liters. The price of crude oil is the highest since the end of September 2014.

Russia is one of the world’s largest oil-producing countries. Now the world fears that Russia’s hostilities will cause distribution disruptions and further increase energy prices.

The International Energy Agency (IEA), among others, raised such concerns on Friday. Problems with oil distribution could push up the price of already expensive fuels.

HS discussed the expensive price of gasoline in an extensive story published on Tuesday.

Read more: Gasoline already costs two euros a liter, and diesel has risen sharply – Who will reap the benefits of rising prices?

In the news, a specialist in the automotive information center Hanna Kalenoja estimates that a rise in the price of crude oil by ten dollars a barrel will affect the price of a few cents a liter of gasoline.

The consumer price of petrol follows the price of oil, but much more gently. Over the past year, the relative rise in the price of petrol seems to have accelerated.

White house security policy advisor Jake Sullivan Washington warned late Friday in Finnish time that Russia’s invasion of Ukraine is possible in the very next few days.

“If Russia carries out an attack on Ukraine, it is likely to start with airstrikes and missile strikes that could obviously kill civilians,” Sullivan told AFP news agency.

Finland has also called for citizens to leave Ukraine.

Sullivan’s warning also caused additional concern for the already volatile stock market. On Friday, the world’s main stock index, the S&P500, packed 1.9 percent and the technology-focused Nasdaq index about 2.8 percent.

In addition to the threat of war, the market is weighed down by faster-than-expected inflation in the United States and fears of rising interest rates.